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of the plan will take money from the depositors. cyprus has an economy the size of vermont but the assets eight times more than the country's gdp. therein the financial woes come as no surprise to analysts. listen to what alan greenspan said friday. >> europe has been hanging over the american markets for quite a while. the removal of that risk, i think temporarily, i think it is only temporary, has enabled the underlying forces of the market to begin to come into vision. >> and today, the clearer vision that greenspan referred to was clouded the cyprus, we have the report by cyprus matters. >> reporter: cyprus is a smaller island with a smaller economy. but now they're watching what happens in the tiny mediterranean nation. >> it's a tiny nation. the reason we care about it is of course cyprus like it was in greece. it's what it means for the bigger nations if they follow and go down the same bath. >> banking is a huge part of cyprus' economy. and it's a mess. if it fails the country will probably fail, too and the european union will not let the country fail. here's the thing, the bigge
the same bath. >> banking is a huge part of cyprus' economy. and it's a mess. if it fails the country will probably fail, too and the european union will not let the country fail. here's the thing, the biggest payers are the russians. >> they don't want to bail out the depositors because they are mainly russians. that's what the issue is. >> so finance makers said depositors are going be compensated. but with the stock market down some 60 percent those chairs are essentially wortless. >> the blanks are closed and won't open until votes on the bailout measure. people are waiting in lines at atms to withdraw money from their accounts and countries are worried around the world that citizens would take money out of their banks that's why even the most seasoned wall street veterans watching what happens in the tiny island in the mediterranean. for "nightly business report" i'm sue herrera. >> so what does it mean to american investors? we turn to the ceo of pimco the world's largest bond fund. i asked if the situation in cypress is unique or is it a serious issue for the u.s.? >> it is mai
, tyler, all about the federal reserve and the economy. >> and cyprus in there for good measure. it was a very busy news day. we're here to tell you all about it. the federal reserve did it again. says it's going to keep ierest rates where they are, near 0%. and it also says it's going to keep up its bond-buying program. the markets like what they heard from the fed along with a pledge from the new head of japan central bank about its own bold, easing measures to be unvailed on thursday. as a result, stocks moved higher here about. the dow touching an all-time intraday high. the blue chips did close 56 higher. nasdaq up by 25 and the s&p 500 se f the rst time in four sessions adding 10 points and taking us to within a few of an all-time high. steve leaseman tells us where we go from here. >> the federal reserve voting 11 to 1 to keep its policy in place and purchasing $85 billion a month in treasury and mortgage-backed securities in an effort to drive down long-term interest rates. but the federal reserve chairman in the press conference after the statement came out, suggested t
jack lew weighs in on the markets and the american economy. his interview just ahead. >>> and the tsa under fire. the growing backlash over knives on planes. what every traveler needs to know. good evening, everyone, and welcome to our public television viewers. suzy, the market beat goes on and on. >> it's like the energizer bunny. it just keeps going and going. the dow marches on higher for the tenth day in a row, the first time since 1997 -- 1996. it ended at 14,539. the nasdaq added 14 and the broader s&p 500 gained almost 9 points, and it's now just 2 points away from its own record high close. >>> there is some concern that the rise in the markets may have been too high too fast. and this could be the start of a market bubble. butewly installed treasury secretary jack lew tells steve liesman not so. >> the analysis i've seen doesn't give me reason to be worried right now. >> we'll have more of steve's interview with the treasury secretary in just a few minutes. >>> as the dow hits unprecedenteded heights and the s&p 500 nears its own peak tantalizingly close to it, there's a bat
tryg to time thearke gyrations. >> overall you think the stronger than expected economy is what is going to power the market to higher levels, to that 1700 that you see in the s&p 500. but which specific sectors of the market do you think will lead the way? >> well, i like most of the cyclicals better than the defensive stocks, tyler. i think as the market keeps going higher, more and more people are underallocated to economic sensitivity. so i really like the manufacturing stocks, the industrials, and the basic materials. i think the financial stocks ve done well and wil coinue to dwe. an i would look at trying to put a little bit into technology stocks that have been really bad for the last year. i think i'm seeing confidence in ceos rise and capital spending going up, and i think that sector could come to life yet in the second half of this year. >> jim, as you know, federal reserve policymakers are meeting on tuesday. do you -- nobody is really expecting any significant change in policy. but do you expect any change in tone and conversation? and how might that impact investo
brands think of the economy and the american consumer? susie sits down with the top man at coca-cola. all that and more coming up right now on "nbr." good evening and welcome to our public television viewers. susie, once again, little cyprus making big economic noise today. >> you're right, tyler. actually a big win for citizens in cyprus. lawmakers rejected today an unpopular and unprecedented proposal to tax bank deposits. it was part of a larger eurozone bailout plan to rescue those banks and keep the nation solvent. the crucial vote came after a wave of protests, and as cypr t cypriots scrambled to withdraw cash from their atms. bertha coombs joins us with more on today's historic vote and what's ahead for cyprus? >> what's ahead is a very big question. the world was watching the tiny island nation again today, in a show of hands-on opposition, party members voted no on a tax and 10% of bank deposits, a condition set by eurozone officials to secure 10 billion euro bailout. many called it extortion. ruling party members abstained saying beyond saying no they need to find another plan.
affect the u.s. economy. presumably including cyprus. as well as the improving u.s. job market, and strong housing sector. and as we wait for fed officials to wrap up their meeting tomorrow, it's expected they will leave interest rates unchanged. joining us to talk more about the fed, randall krosner, former fed governor and now professor of economics at the university of chicago. i've not had the benefit of being in those meetings. you have, and i'm curious to know, do you think cyprus came up? if so, how? and how would the fed governors and members of the fomc handicap its possible effects on the u.s. economy? >> it certainly would have come up, i think, if some analogies with iceland from a number of years ago. even a smaller country, only 250,000 people, not a million people, but it was something that we focused on. we worried about and tried to think of what the implications are. here it's clear the europeans have made i think a terrible mistake in making this proposal. that potentially could undermine confidence, and that could have knock-on effects not only for the whole
. that's why housing's come back. that's why the stock market's come back. that's why the economy's come back. if we see some sort of bump in the road with respect to employment, i think that could really surprise people. now, from an historical perspective, the job gains that we're seeing relative to history are very slow. that's why we like to talk about the construct of the u.s. market in a bit of nursery rhyme-type situation where it's the little engine that could. we continue to kind of climb higher and trudge higher, slow job growth, slow gdp growth, slow earnings growth and low interest rates is a great, great time to be invested in equities. bear in mind, investing is not a binary event. you have to own fixed income, commodities, real estate and own some equities. it's not an either/or type of event. but overall from a longer-term perspective, we still believe that people are you understand exposed equities because of the ills of the last 20 years. >> john, i really want to ask brian, he said 1425 close on the s&p. it close the at 1426. i don't know how he got it so wrong there.
i did with this article. the simple fact is that we live in two economies in this country. all of them lived in one economy which has had a lot of trouble over the last decade and then there is the medical economy which has been booming, just going hog wild booming, and the reason, there is no con proehl on the profits and the prices, and i don't come from -- i'm a left-wing perspective. i look at it from the standpoint of the consumer which & they have no leverage under the marketplace. >> under the obama care there is hope for this because they'll be big nufr, how health care is the unit price. they all have to be built by the patient. >> i'm not sure we solved it, but we made a veiliant effort and i hely recommend steve's piece and it is one of the best things i've read on the spiraling cost. court tv founder and former governor howard dean. >> coming up, catholics around the world waiting for a new pope. why it would be beneficial for him to be a man of god with a head for business, but first, let's take a look at how treasurys, currencies and commodities fared today. >> on
's biggest companies are optimistic about the u.s. economy, expecting it to grow more than 2% this year. the business roundtable is out with its latest ceo economic outlook index. it rose to a score of 81 in march. now, that was much higher than the previous reading of 65 back in december. anything above the score of 50 indicates economic expansion. another positive, the survey was taken even before the recent run-up in the stock market. now, 72% of those ceos surveyed expect their company sales to rise in the next six months. 38% plan to boost capital spending in that same period, but only 29% of them hire more workers over the next six months. >>> if you're thinking of making new investments, here's your chance to get into the exclusive world of private equity. carlisle group is letting in newer investors by sharply lowering the minimum amount of money needed to get in. while many investors love the idea of investing with the big boys, we are warned buyer beware. >> admission into wall street's inner circle has long been expensive. if you didn't have millions of dollars in your bank a
Search Results 0 to 23 of about 24 (some duplicates have been removed)